Peter Smith, president at NBC Universal (NYSE: GE) International, said on the sidelines of the conference that the global M&E major will focus on the investment in NDTV for now and is not currently looking at other investments in India right away. NBC bought a 26% stake in NDTV Networks Plc. in January 2008 for $150 million. NBC has the option of scaling up the investment to 50% in NDTV Networks. When asked for an update on if NBC will utilize the option, Smith said the company had till May next year to take that decision.
When asked about reports that NDTV was in talks with Turner International, a division of Time Warner (NYSE: TWX), for a possible investment, Smith said he has seen the reports as well, but could not comment on them.
Eventually, NBC will also look at launching its own channels in India, such as SciFi. Even though the focus now is on NDTV Imagine, the general entertainment channel, the company sees a lot of potential in NDTV’s lifestyle broadcasting and convergence businesses. I asked him if NBC is looking at doing anything more in the Internet space in India, given that there no investment restrictions there. Smith said the company believes that there is a lot of business potential in India’s Internet space and might introduce some properties here in the long term, but there are no specific short term plans.
Is NBC worried that Colors, a general entertainment channel that came out of a partnership between India’s Network18 Group and Viacom Inc. (NYSE: VIA), has stolen a march ahead of NDTV Imagine? “I’m an optimist. I look at Colors and think, if they can do it, we can definitely get there.”
NDTV Imagine recently launched some new shows as part of a comprehensive overhaul of its programming lineup. But the ratings slipped in the weeks after the new shows were launched. Is that a cause for concern? “We are in the process of rolling out the new line up, and i would give it some time,” Smith said.
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